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Toyota reports better-than-expected profit

(MGN Online)
(MGN Online)
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Updated: 8/05 10:38 am
TOKYO (AP) _ Toyota Motor Corp. reported a better-than-expected rise in quarterly profit as vehicle sales grew in North America and Europe, offsetting a drop in Japan.

The Japanese maker of the Prius hybrid, Camry sedan and Lexus luxury model reported Tuesday an April-June profit of $5.7 billion, up nearly 5 percent from a year earlier.

Quarterly sales rose 2 percent to $62.3 billion.

But Toyota lowered its vehicle sales forecast for 2014, saying it now expects to sell 110,000 fewer vehicles worldwide than the plan announced in January.

Even then, it will still reach the 10 million vehicle industry milestone at 10.22 million vehicles, up 2 percent from 2013.

Toyota, the world's top automakeria, sold 2.24 million vehicles in April-June.


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